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 Disciplines of Risk Management

Strategic Thought focuses on helping organisations to generate value from their risk management activities. This means that we address how managing the risk of a business function (any business function) can generate value for the business as a whole.

In our opinion there are no neat categories or groups of risk management functions, such as the IRM’s categorisation (included below for your reference), or the current industry buzz group of "Governance, Risk and Compliance". There are simply business functions, all of which will have risk issues to varying extents, all of which require management - and if a business is to gain maximum value from its risk management efforts, it needs to understand the management of risks across the entire enterprise, so that decisions can be made based on the full enterprise-wide picture.

As a result, at Strategic Thought, we talk about Enterprise Risk Management, and we look at the value that risk management can generate from the individual business areas that work together to deliver the goals and objectives of the organisation as a whole.

Please click here to be take taken through to the pages explaining how ARM delivers capability, benefit and value to specific business functions and risk disciplines.

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Here are some key disciplines explained in brief:

Enterprise Risk Management

Simplify all manner of risk reporting across your organisation and supply chains.

Corporate Risk Reporting

Enable real-time risk visibility across your organisation to make better more-informed decisions.

Corporate Governance

Embed a risk management process through your organisation to enable a dynamic and auditable compliance process.

Project and programme risk management

Maintain qualitative and quantitative status and interface to major project management tools.

Business Continuity Planning

Capability to ensure that all plans are updated and regularly audited.

Information Security

Ensure that your IT systems are robust and your IP is secure through a dynamic and auditable programme.

Health and Safety compliance

Maintain a dynamic and efficient Health and Safety compliance programme by embedding the reporting and updating from all areas of your organisation, to identify the areas of greatest exposure or application of resources.